Nifty Elliott Wave Analysis

[Bimbo]

Nifty Going as projected .Went upto 4947 .If It crosses 4947 again it is 5 th wave of C .If it fails to cross 4947 ,then the lower high at 4940 has already made a truncated 5 th of C & markets can come to 4814 levels.

If market crosses 4947 then 4 th wave ends at 4860 & 5 th is up from here

Watch which alternative works.

DISCLAIMER The content given here is only for Educational purpose & not for Trading.The Analyst cannot be held responsible for any losses incurred by acting on the content.Trading in Futures & stock market is Risky.So consult your own Financial Analyst to trade.

 

[gsharma_2000]

This is the continuation of rules from the same documents see yourself.

I already told u there is some difference of opinion so let any expert in TJ clarify.

Hi Raja,

The document you posted states rules for triangles (Leading triangle, Ending triangle, or any other contracting triangle, except expanding triangle) with 5 waves, not a regular impluse wave. In these triangles wave 5 is shortest, but in an impluse wave, that's not the case. Hope it clarifies.

 

[Bimbo]

Nifty reverses from 61.8 % of Wave 1.Will wait for a day or two to confirm if wave 2 is over.After completion of Wave 2 ,the "3" rd wave will be the most treacherous wave which WILL break the bottom of wave 1 which is 4538.5

But Better wait for confirmation of completion of wave 2 rather than jump the Gun early

DISCLAIMER The content given here is only for Educational purpose & not for Trading.The Analyst cannot be held responsible for any losses incurred by acting on the content.Trading in Futures & stock market is Risky.So consult your own Financial Analyst to trade.

 

[Bimbo]

As waves Unfold we are getting a clearer picture.The hourly chart shows we are forming a double zigzag abc-x-abc for wave 2

DISCLAIMER The content given here is only for Educational purpose & not for Trading.The Analyst cannot be held responsible for any losses incurred by acting on the content.Trading in Futures & stock market is Risky.So consult your own Financial Analyst to trade.

 

[Bimbo]

Nifty may be forming a Triple zigzag or Combination.The fall on Thusraday may be a "X" wave.So if We stay above 5025 or so it may form another zigzag .If Nifty is choppy to sideways we may form Triple Combination ending with at Flat or Triangle.

Net Result BIAS Sideways to Upwards

DISCLAIMER The content given here is only for Educational purpose & not for Trading.The Analyst cannot be held responsible for any losses incurred by acting on the content.Trading in Futures & stock market is Risky.So consult your own Financial Analyst to trade

 

[Bimbo]

As wave unfold the Structure is becoming more clearer.The Upward wave i.e WAVE 2 is making 9 waves (marked in Blue),which means it is an Impulse Pattern.( ref Elliott Wave Principle by Frost & Prechter).

So it is wave a of Wave 2 & we may form a Zigzag.

Internal structures of minuette waves (hourly) may be relabelled but the Primary structure is Intact.If it is Part of wave 2, the highest point of WAVE 2 cannot go above 5181.95

So As we see Wave 3 (PINK) is extended wave 5 can be 61.8 or 100 % of wave 1 which gives us target of 5032-5099.

After wave a of wave 2 is complete we will see wave b of wave 2 downwards & then wave c of wave 2 will go above Wave a of 2.(See Yellow Projection)

After wave 2 is complete the 3 rd wave down will start see Projections in Yellow.

The previous Triple Zigzag mentioned is taken as an Alternative .

DISCLAIMER The content given here is only for Educational purpose & not for Trading.The Analyst cannot be held responsible for any losses incurred by acting on the content.Trading in Futures & stock market is Risky.So consult your own Financial Analyst to trade.

 

[Bimbo]

As said 5032-5099 is the area where Index is supposed to be for 5 th wave (can go higher) being 61.8 % to 100 % of wave 1.

The 5 th wave markings if correct looks like a Diagonal Triangle because of overlap between wave 1 & wave 4.

After a Diagonal triangle is complete Markets retrace to the bottom of Wave 1 of a Diagonal Triangle.So Watch 5010 level to be broken on a sustained basis to conclude a Diagonal Triangle for a Target of 4925.Lower Supports exist at 4870.

So wait for completion of Diagonal Triangle whose 5 th wave is currently forming.

DISCLAIMER The content given here is only for Educational purpose & not for Trading.The Analyst cannot be held responsible for any losses incurred by acting on the content.Trading in Futures & stock market is Risky.So consult your own Financial Analyst to trade.

 

[Bimbo]

After a Long wait for the completion of WAVE 2 or wave B,I think Nifty has finally completed WAVE 2 ??.It has formed a Zigzag for WAVE 2 as mentioned before.Since the Wave c of the Zigzag is very small,i.e truncated Zigzag,a forceful down move should ensue if wave markings are correct.First test of levels 4925-4933 looks very probable.

If indeed Wave 3 has started then 4538.5 has to be broken.

But will wait for Wave structure to Prove itself .Test of 4893 & 4844 needs to be keenly watched if indeed it is wave 3.

If anytime the high of 5181.95 is taken out then the Wave Markings are construed to be wrong & alternative will have to be looked into.

DISCLAIMER The content given here is only for Educational purpose & not for Trading.The Analyst cannot be held responsible for any losses incurred by acting on the content.Trading in Futures & stock market is Risky.So consult your own Financial Analyst to trade.

 

[Bimbo]

Nifty is making ABC flat which can be seen on Hourly chart.The C wave if correct should go to 4538.5

DISCLAIMER The content given here is only for Educational purpose & not for Trading.The Analyst cannot be held responsible for any losses incurred by acting on the content.Trading in Futures & stock market is Risky.So consult your own Financial Analyst to trade.

On a 15 min Chart see the internal wave structure of Wave C down.Wave iv is nearly complete & wave v down may carry prices below 5001 to 4980-4960 immediately.

 

[findvikas]

I am not surprised to see that EWI and Wolfewave both are suggesting similar targets... well below 4600 mark

If this WolfeWave complete on time, then we will see below 4550 by this expiry. Now if you look at the PCR 4500 is trading at 13.5

Even for January they have maximum puts added for 4500 and PCR is at 184.67